The holder of a variable annuity has a 6% AIR and has a target monthly payment of $1,500. If her separate account experiences a 10% return will her monthly payment be more than, less than, or equal to the target $1,500 monthly payment.

Gregg has been faithfully investing in an annuity for the last twenty years. On his thirty-fifth birthday Gregg was involved in a fatal automobile accident. What will happen to the value in Gregg’s annuity?

Gains distributed from life insurance cash value or annuity account value will be taxed as __________________ in the year received.

Jack F has invested $100 per month for the last twenty years into an annuity. At the time of annuitization the insurance company calculates the aggregate payout to Jack will be $72,000.

If Jack will receive monthly payments of $1,000 how much of the $1,000 will be taxable?

An annuitant with $200,000 in his account is retiring. Biggert & Moore Insurance Company pays $48.16 per thousand dollars held in an individual’s account.

What would an annuitant’s monthly income payment be in this example?

Biggert & Moore Insurance Company has $500 million in its separate account with two million accumulation units outstanding. Bill has 1,000 accumulation units with Biggert & Moore Insurance Company.

What is the value of Bill’s account?

Biggert & Moore Insurance Company has $500 million in its separate account with two million accumulation units outstanding. What is the value of one accumulation unit?

John has an indexed annuity with a 80% participation rate and a 6% cap rate. The S&P 500 increased by 9%; what rate of return will be applied to the insured’s annuity?

Which annuity “life” payout option is the riskiest for the annuitant?

All but which of the following is a funding method for an annuity?

Bill and Hillary have a joint and 80% survivor annuity with a $2,000 per month benefit payment. If Hillary dies what will the monthly payment be to Bill?

Sharon has a $250,000 face value fixed premium variable life insurance policy on herself and has chosen a very aggressive portfolio in hopes of enjoying large investment returns. Unfortunately her investments have lost about 10% of their value year to date. What death benefit will Sharon’s beneficiary receive?

Which variable life product has a fixed, level, and required premium schedule?

The net investment ______________ of the portfolios chosen by the variable contract owner will determine the variable cash value and variable death benefit of his variable life insurance, or the account value of his variable annuities.

True or False? Variable contracts have indeterminate values of assets held in a separate account.

An insurer shall provide to each prospective purchaser a ____________ and a _____________.

You have just written a new life insurance policy for your client, Shane Smith. You inform Shane that the grace period for his new life policy is _______ days.

James explains to Mr. Smith, the insured, that policy summary defines coverages, benefits, limitations, exclusions, cost and terms of a proposed life insurance policy. However, cost and benefit information usually include all but which of the following?

A second party listed on an insurance policy to be put on formal notice of a lapse as a “back-up” to ensure is known as a _________________.

Life insurance policies delivered in Florida must contain all but which of the following non-forfeiture options.

True or False? A life insurance agent can never be named as beneficiary in any life insurance policy.

True or False? The grace period for a life insurance policy is 30 days.

Sarah is replacing her client’s life insurance policy. To do so, what form must Sarah have her client sign?

Advertisements containing a rate to be earned are prohibited unless all limitations and conditions that affect the rate of return ultimately realized by the policyholder are _____________ prominently.

Jenna Jones is replacing her current life insurance policy with Acme Life Insurance with a new policy through Thrive Right Life Insurance Group. Thrive Right Life Insurance Group is required by law to send a copy of the Notice to the Applicant Regarding the Replacement of Life Insurance to the insured’s ___________?

True or False? Any reference to policy dividends must include a statement that dividends are guaranteed.

Dave has recommended to his client, Martin Short, the surrender of his life insurance policy which contains cash value. Dave must provide Martin all but which of of the following?

True or False? Life Insurance policy “free look” provisions allow up to 14 days and annuity “free look” provisions are up to 21 days.

Matthew Williams is replacing his current Life Insurance policy with Gallant Insurance with a new policy through Acme Insurance. Which form must Gallant Insurance provide Matthew with?

True or False? The maximum policy loan interest rate is 25%.

If four partners choose a cross-purchase buy-sell plan and the business is valued at $1,600,000 how much life insurance will each partner have to purchase on the lives of each other partner?

Why would a Partnership Buy-Sell Plan be so important to partners Bruce Stone and Robert Quarry.

If eight owners of a “close corporation” choose a close corporation stock redemption buy-sell plan and the company is valued at $6,000,000 how much life insurance will each owner have to purchase on the lives of each other owner?

If four partners enter into a partnership entity buy-sell plan and the business is valued at $1,600,000 how much life insurance will each partner have to purchase on the lives of each other partner?

Michele, a mother of two, is fifty-two years old and plans on working until she is sixty-five. Her current income is $48,000 and she pays $7,000 in taxes and Michele absorbs $10,000 per year. How much would you use as “earnings” in a Human Life Value approach for Michele.

Who would be the likely purchaser of business interruption insurance?

Mr. Ricky Cotton of Coconut Grove, Florida has recently passed away. Ricky was the family breadwinner and is survived by his thirty-four year old wife, Sheila, and twelve year old daughter, Cherri.

How long will Sheila’s “blackout period” be?

The __________________________ provision allows an insured suffering from a terminal illness to receive “living benefits” while they are alive so they and their families can continue in their lifestyle, maintain their residency, or pay for the insured’s medical expenses.

Mr. Ricky Cotton of Coconut Grove, Florida has recently passed away. Ricky was the family breadwinner and is survived by his thirty-four year old wife, Sheila, and twelve year old daughter, Cherri.

How many years will Cherri be eligible to receive survivor’s dependent’s benefits?

You are working with Kenny Ray to determine the appropriate amount of Life Insurance Mr. Ray should have. Which of the following should be included in calculating Kenny Ray’s “final expense fund”? (select all that apply)

What interest rate should be used in computing Michele’s Human Life Value if the current inflation is at 2%, Federal Funds rate is 2.25%, the rate on a CD is 2.35%, and the rate on a 30 year fixed mortgage is 4.50%.

Michele, a mother of two, is fifty-two years old and plans on working until she is sixty-five. Her current income is $48,000 and she pays $7,000 in taxes and Janet absorbs $10,000 per year.

Michele’s “work-life” equals?

If eight owners of a “close corporation” choose a close corporation cross-purchase buy-sell plan and the company is valued at $6,000,000 how much life insurance will each owner have to purchase on the lives of each other owner?

Which type of plan requires fixed contributions with future benefits derived from accumulations from contributions and interest?

How much can Jackie Joiner Jackie contribute to her SEP in a given year including contributions to her six employees?

If the Lucky Charms retirement plan is a Profit-Sharing Plan, LCDCA will be required to make:

Kelvin is 70 years old is receives over half of his support from his fully insured daughter who has recently died.

What benefits if any is Kelvin entitled to?

Christi’s mother, Pam, passed away when Christi was six years old. Pam has accumulated the full forty credits necessary for full survivor benefits. What percentage of Pam’s PIA is Christi eligible for?

Teddy is 62 years old and his wife Petula is a fully insured worker having accumulated the full forty credits. Petula passed away and Teddy is wondering if he will receive Petula’s full PIA as a monthly lifetime income benefit.

Payroll taxes are levied against a set “taxable wage base” with a portion of the tax funding OASDI and the other portion funding ______________.

William X of Miami, Florida has accumulated six credits in the last thirteen quarters.

Which, if any, of the following statements regarding Social Security are correct?

Statement I. The Social Security system uses an accrued “credit” system to determine eligibility for benefits.

Statement II. The maximum accrued credits are 12 credits per year (one per month).

The Social Security system provides a basic floor of protection to all working Americans against the financial problems brought on by:

Social Security defines a disability as one in which the worker is unable to engage in:

True or False? Surviving spouses with children “eligible for benefits on the deceased spouse’s record” can receive benefits until the child or children reach 21 years of age.

All OASDI benefits are calculated from the worker’s:

What percentage of a workers earned income (wages) are taxed for FICA?

Peggy Sue has accumulated thirty-two credits in the Social Security’s system for determining eligibility for benefits.

Is she eligible for full retirement and survivor benefits?

True or False? All workers are covered by Social Security.

Which of the following organizations would qualify for a 403(b) retirement plan?

Walter E. Chimp has been contributing $100 per paycheck into his company sponsored defined contribution plan.

What percentage of Mr. Chimp’s contributions are vested?

Lucky Charms is an employer who prides itself on offering and providing “best of class” benefits to Lucky Charms employees.

Which of the following will Lucky Charms receive or experience as a “best of class” benefit provider?

If Lucky Charms Diet Clubs of America (LCDCA) is determined to be discriminatory in their retirement plan what will likely happen to the plan?

Lucky Charms Diet Clubs of America (LCDCA) has a qualified retirement plan with 100% vesting for employees with two or more years of service.

Which, if any, of the following employees are eligible to participate in Lucky Charms’ retirement plan.

True or False? ERISA’s purpose is to protect the rights of employers with employer-sponsored plans.

Sharon Trout works for Lucky Charms Diet Clubs of America (LCDCA) as an account executive. LCDCA has a qualified 100% employer funded retirement plan.

When are the earnings in the plan taxed to Sharon Trout?

Which, if any, of the following statements are correct regarding the taxation of payments made to the annuitant?

Statement I. The portion of each benefit payment that can be attributed to the annuitant’s investment is tax-free.

Statement II. The portion of each benefit payment that is attributed to earned interest is tax-free.

In an Indexed Annuity if the participation rate is 75% and the index increases by 10% what amount is credited to the cash value of the account?

All of the following are characteristics of indexed annuities EXCEPT?

Which, if any, of the following statements are correct?

Statement I. Fixed Annuities provide a fixed, guaranteed accumulation or payout.

Statement II. Variable Annuities attempt to offset inflation by providing a benefit linked to a variable underlying investment account.

Kennedy has paid $400,000 in annuity payments. She annuitized her annuity five years ago with the “installment refund” option and has received $60,000 in payments from the insurance company.

If Kennedy were to die today how much would the insurance company pay her beneficiaries?

Kennedy has paid $400,000 in annuity payments. She annuitized her annuity five years ago with the “straight life income” option and has received $60,000 in payments from the insurance company.

If Kennedy were to die today how much would the insurance company pay her beneficiaries?

Which, if any, of the following statements are correct regarding annuity income payments?

Statement I. Deferred annuities make the first payment to the annuitant after one payment interval from the date of purchase.

Statement II. Immediate annuities by design make payments to the annuitant at some future date.

Beverly decides against the lump-sum option for funding her new annuity and has chosen periodic payments instead. Why might Beverly have chosen periodic payments as an option?

You are selling Helen an annuity and are listing some of the major benefits of annuities. Which, if any, of the following might you share with Helen? (select all that apply)

All of the following are acceptable 1035 exchanges EXCEPT?

Beverly wants to start an annuity and she is considering a single lump sum amount to fund the annuity.

What other option does Beverly have to fund her new annuity?

The _________ Period starts when the annuitization of the policy begins; it is the time of liquidating the annuity by paying the annuitant.

When annuitization begins no further payments can be made into the annuity and the ___________ period ends.

Which statement(s), if any, are correct regarding insurance and annuities?

Statement I: The creation of an estate at the death of “the customer” is a characteristic of Life Insurance.

Statement II: The liquidation of a principal sum over the life of “the customer” is a characteristic of Annuities.

The Joint and Full Survivor option pays the most of any survivor option as the surviving annuitant receives ____% of the payment.

Kennedy has paid $400,000 in annuity payments. She annuitized her annuity five years ago with the “cash refund” option and has received $60,000 in payments from the insurance company.

If Kennedy were to die today how much would the insurance company pay her beneficiaries?

Linda started an annuity three years ago and wishes to withdraw a very small portion of the annuity to help pay for her granddaughters first semester in college. She knows that there are surrender charges in the first five years of the annuity but is shocked to find that no surrender charges were levied against the withdrawal.

How was Linda able to receive the withdrawal without incurring surrender charges?

Which, if any, of the following are variables in the calculation of an annuity payout? (select all that apply)

True or False? The maximum amount of Credit Life Insurance a person can purchase is three times the amount of the loan or credit applied for.

Terminated employees under a group life plan are eligible to convert to an individual plan without:

Florida law mandates all group life policies to have a _________ provision if the “employment” terminates.

Which, if any, of the following statements are correct?

Statement I. Contributory Plans: are group plans where the employer pays the entire premium.

Statement II. Non-Contributory Plans: are group plans where the employee is required to pay a portion of the premium.

Calculate the amount of Life Insurance that is employer provided if the benefits are based upon an employee’s earnings. Jerome is a full time employee earning $35,000 per year. If Jerome’s employer provides 1 X earnings for the benefit.

True or False? Group Insurance plans are underwritten on the group as a whole not on any person or persons.

True or False? Most Group Life Insurance policies use a universal life policy as the underlying policy type.

Which, if any, of the following are “eligibility criteria” for the purchase of Group Insurance?

All BUT which of the following are eligible groups for a group life insurance policy?

A Joinder Agreement is the written document which spells out the relationship between a ________________ and an employers group.

Florida law provides up to ___ days after an “employment” termination for an individual to convert their group coverage to an individual plan.

True or False? Medical Exams are not required as a part of ALL Life Insurance Applications.

Theresa “Super-T” Jones, a round table and award winning Life Insurance Agent, has taken an application and collected the annual premium from Ryan Wails (the policyowner and insured).

What will “Super-T” be giving to Mr. Wails before concluding her sale?

Which of the following is a field underwriting task performed by an agent?

A _____________ receipt guarantees coverage even if the proposed insured is found to be uninsurable; up until the time the insurer has formally rejected the insured’s application.

The purpose of the ________________________ is to serve as a reliable source of medical information in the underwriting of a client who is applying for life insurance.

True or False? The purpose of the Statement of Insured’s Good Health is to extend the insured’s Free-look period to 60 days.

True or False? An insurable interest must exist at the time of the policy application but does not need to exist at the time the policy proceeds are actually paid.

Which, if any, of the following are good reasons for an agent to personally deliver to the insurance policy to the policyowner.

Representations must be true only to the extent that they are material to the risk. A __________ is a statement that is considered literally true. A __________ that is not literally true in every detail, even if made in error, is sufficient to possibly render a policy void.

The _________________ established procedures for the collection and disclosure of information obtained on consumers through investigation and credit reports.

Part III – Agent’s Report is important because, in an insurance application:

True or False? If the Life Insurance policyowner is a firm or corporation, one or more partners or officers, other than the proposed named insured, must sign the application.

The ______________________________________ places requirements on health care providers with regard to disclosing patients’ medical information.

The _______________ questionnaire is required of any applicant who spends a significant amount of time flying, such as an airline pilot.

Which, if any, of the following are examples of relationships that automatically carry an insurable interest?

Dr. Babs Henn Jane took out a Life Insurance policy on June 30th paying her agent for the full years. The policy was issued by the insurance company and sent to the company’s local agent September 1st for the agent to deliver the policy.

What is the Policy Effective Date?

Part ___ of a Life Insurance Application asks about the insured’s hobbies, profession, and if the insured smokes?

Bruce Li has chosen the settlement option where the insurance company pays the beneficiary equal amounts of money at regular intervals over a specified period of years.

Which settlement option has Bruce Li chosen?

Jackie Chan has chosen the settlement option where the insurance company holds the death proceeds for a specified period of timeand, at regular intervals, pay the beneficiary the interest earned on the proceeds.

Which settlement option has Jackie Chan chosen?

True or False? Personal and Business Life insurance premiums paid are never tax deductible.

Which of the following, if either, statement is true?

Statement I: A policy’s cash value is basically the savings element of a term life policy.

Statement II: Policy reserves are the amounts required to ensure that funds will be available to pay future claims.

By computing the extra deaths per thousand for any number of substandard risk an insurance company uses extra percentage tables to ____________ a substandard risk.

Cherri Polka is 20 years old and the rate per thousand for Cherri is $1. Ms. Polka is purchasing a term life policy with a $250,000 face value.

What is the annual cost of her insurance policy?

Rickie is using what section of the tax code to exchange her life insurance policy on a “tax-free” basis for another “like-kind” policy.

True or False? A terminally ill person can sell a life insurance policy to a viatical settlement provider and not pay federal tax on the amounts received.

The ________ rule provides that each portion of any life insurance proceeds attributed to interest are taxable and any portion attributed to the payment of principal is received tax free.

Under NAIC guidelines an insured will receive anywhere from 25% to 50% of the policy face value in a viatical settlement.

The assumed interest rate used by insurance companies must be reasonably _____________.

__________ tables reflect the death rate at each age.

Ralph Keith, your insured, has asked what his yearly premium payment will be for a $150,000 Whole Life Policy. His mortality cost is $520, projected interest earnings are $100, and applicable expense cost is $180.

David J. Martinez is 30 years old and the rate per thousand for Pedro is $20. Mr. Martinez is purchasing a whole life policy with a $50,000 face value.

What is the annual cost of his insurance policy?

Life insurance premium rates are generally expressed as an annual cost per $1,000 of __________.

With the _____________ even if the principal is depleted, income payments will continue, so long as the primary beneficiary is alive.

Scarlett O’Kara is 49 years old and the rate per thousand for Scarlett is $4. Ms. O’Kara is purchasing a $250,000 face value policy.

What is the annual cost of her insurance policy?

The OIR requires rates must be ______ enough to cover the costs of paying claims and doing business, yet low enough so that they are not usuriously priced.

Which, if any, of the following statements are true?

Statement I: Death benefits paid under a life insurance policy to a named beneficiary are not taxed as ordinary income.

Statement II: Interest paid by an insurance company on death benefit proceeds left with the company are taxed as ordinary income.

For the purposes of the __________________ provision, a person is considered terminally ill when a physician certifies that the person has an illness or condition that can be reasonably expected to result in death within 2 year(s).

The death proceeds of a life insurance policy can be paid out in a variety of ways. The choice is up to the policyowner, as a right of ownership, or the policyowner may leave the decision to the __________.

Cassie has surrendered her whole life policy for its $35,000 accumulated cash value. Over the years Cassie paid $25,000 in premium.

What amount will Cassie be taxed on?

The sum of the life insurance premiums paid by the policyowner is known as the policyowner’s ______________.

Which of the following are not applicable in the individual mortality of an insured?

Glen Winningham, your insured, has asked what his yearly premium payment will be for a $200,000 Whole Life Policy. His mortality cost is $490, projected interest earnings are $120, and applicable expense costs are $110.

The share of operating costs applied to the computation of a life insurance premium is referred to as _____________.

For a mortality table to be accurate, it must be based on two things: a large cross section of people and a large cross section of time.

Which of the following, if any, are used to compute a basic life insurance premium? (select all that apply)

If the insured and the policy beneficiary die at the same time how will the life insurance proceeds be paid?

Jack Insured has taken out a $1,000,000 policy on his life and has established beneficiary designations as follows: Jill Insured, is to receive the full benefit; if she predeceases Jack, then Humpty Dumpty and Baa Baa Black Sheep are to share equally in the benefit; and if Humpty Dumpty and Baa Baa Black Sheep predecease Jack, the benefit is payable to Mother Goose.

What party is the tertiary beneficiary?

Secondary beneficiaries are also known as __________ or successor beneficiaries.

Designating an estate as beneficiary is generally not a good idea for which of the following reasons? (select all that apply)

True or False? An insurable interest by the beneficiary in the life of the insured is required when the original application is written and the applicant is not the insured.

Which of the following scenarios are eligible (Facility-of-Payment provision) for a claims payment without a policy beneficiary designation? (select all that apply)

Michele owns a life insurance policy on Brenda; Brenda is Michele’s sister and business partner. Michele has designated herself as the beneficiary. Which type of application is this?

What is the purpose of the Spendthrift Trust Clause in a life insurance policy?

Which beneficiary designation passes down from a deceased primary beneficiary to the children of the beneficiary?

Which, if any, of the following statements are correct?

Statement I. Jim is the policyowner and Jill is a revocable beneficiary on the policy. Jim can change the beneficiary at any time.

Statement II. Jim is the policy owner and Jill is an irrevocable beneficiary on the policy. Jim cannot change the beneficiary without Jill’s written consent.

What is the main purpose of the Cost of Living Rider?

The cash values in a policy are ___% vested to the policy owner and the policy owner is entitled to them at any time.

The Free-Look provision in a life insurance policy affords the insured up to __ days to review the insurance policy with a full refund if the insured opts not to keep the policy.

The Insurance Company agrees, in accordance with the provisions of this policy, to pay to the beneficiary the death proceeds upon receipt at the Principal Office of due proof of the insured’s death prior to the maturity date.

This is an example of?

Which type of policy assignment would be most appropriate when using life insurance to secure a loan?

Your insured customer would like to be protected if he becomes disabled and is unable to make his premium payments.

What policy rider will you add to his policy?

Shelby has received a dividend and elects to use the dividend to purchase more insurance. Which dividend options might Shelby elect?

Becky’s whole life policy has lapsed. Which non-forfeiture option will provide Becky with the same amount of coverage (albeit for a limited time)?

This standard life insurance provision provides for the early payment of some portion of the policy should the insured suffer from a terminal illness or injury.

Which of the following is NOT a bar to contesting an insured’s claim after the expiration of the Incontestable Clause?

When Joe Insured makes a payment on his Universal Life Policy a portion of the premium payment:

Jack and Jill have a Last Survivor Whole life policy with a face value of $300,000. When Jack dies how much will Jill collect?

Variable insurance contracts are considered _________ contracts and fall under the regulatory arm of the office of insurance regulation and the SEC.

Which, if any, of the following statements are correct?

Statement I. With the Attained Age Method the insured converts her term policy to a whole life policy
and the premium is charged for a Whole Life policy at the insured’s “attained” age at the date of the conversion.

Statement II. With the Original Age Method the insured coverts her term policy to a whole life policy
and the premium charged for the Whole Life policy is the insured’s age when the original term policy was taken out.

All of the following are factors contributing to the cash value in an insurance policy EXCEPT?

Roberto has a term insurance policy with a $250,000 face amount which decreases every year for 30 years; basically to cover the declining balance of his home mortgage.

What type of term insurance policy does Roberto have?

A _______________ Policy gives the insured the option to renew the term policy without going through medical underwriting.

Straight whole life insurance is based on the age of issue to the actuarial age of ___.

If the insured wants her Universal Life insurance policy to pay the face amount of her policy plus pay her the policy’s cash value which UL Death Benefit Option should she choose?

Which of the following, if any, are favorable tax treatments of life insurance policies? (select all that apply)

_____________ is the unethical act of persuading a client to cancel a policy for the purpose of selling them another policy without regard to any negative affect it may have on the client.

True or False? Life insurance should not be described or implied as a savings or retirement plan.

Which, if any, of the following statements are correct?

Statement I. An “unauthorized” insurer is one duly authorized by a subsisting certificate of authority issued by the department to transact insurance in this state.

Statement II. An “authorized” insurer is one not so authorized.

Unfair discrimination takes place in the sales or underwriting process when adverse decisions are made based on characteristics such as:

____________ selling is presenting products that meet specific needs of clients so the client can make their own decisions about what products are best for them.

True or False? The NAIC model regulations state that illustrations must not contain words like invisible premium.

Policy replacement includes which of the following?

Misrepresentation is any written or oral statements that do not accurately describe policy benefits or coverages AND misrepresentation is ________. Defamation is the false, malicious, or derogatory communication (oral or written) that injures another’s reputation or character AND defamation is ________.

When using illustrations, agents are required to obtain a signed statement from the proposed insured acknowledging that non-guaranteed elements are subject to changes either higher or lower and that they are not ___________.

Sharon is replacing Mrs. North’s insurance policy; all but which of the following are appropriate in the replacement?

The courts have ruled that any ambiguities in contracts are construed in the most favorable light to the __________ party.

Big Money Mountain Insurance Company has received Jill’s life insurance application and has issued the policy on a standard basis. The original application was on a super-preferred basis.

What has Big Money Mountain done?

True or False? The acts of the agent are the acts of the insurer.

Which of the following are requirements of an insurance agent as fiduciary?

What is the difference between the concepts of waiver and estoppel?

Which of the following can render a contract unenforceable? (select all that apply)

Which legal concept states that when individuals put agreements in writing any oral representations made prior to or after the written contract do not change the contract and the written contract “stands on its own” as regards the agreement between the parties.

With this type of authority an agent acts on behalf of its principal without express or implied authority granted by the principal.

Life insurance ___ a personal contract between insurer and insured.

Which of the following are required for a contract to be legal?

_______ Law governs the relationship between an agent and insurer and that being that an act by the agent is an act by the principal.

True or False? To be enforceable at law a contract must have a legal purpose.

James has convinced his neighbor, a senior citizen, to allow James to take out life insurance on the life of the neighbor with James named as the beneficiary. James has advised he will pay all of the premiums and James has offered the neighbor $2,500 for participating in the transaction. This is an example of:

Which, if any, of the following statements are correct?

Statement I. Valued Contracts pay a stipulated amount listed specifically in the policy.

Statement II. Indemnity Contracts pay the value of a loss subject to the policy limits.

Insurance contracts are considered aleatory contracts because (choose all that apply):

Which of the following are appropriate insurance sales practices? (select all that apply)

Which association handles claims of insolvent life, accident, and health insurance companies?

Which Federal Act re-established the states as the regulators of insurance?

The two main purposes of industry oversight are to ensure:

___________________ Organizations focus on preventive care and treatment.